Reference no: EM132604396

Question - Arshdeep's Corporate Planning Services Limited provides planning and organization service to local businesses. During the month of February 2019, Arshdeep's had the following transactions.

Feb 1 Paid $1,900 for four months of insurance coverage.

Feb 3 Provided services worth $8,600 to a customer on account.

Feb 5 Paid $850 to the bank to reduce the bank loan principal. Interest was $50 and the remainder was principal.

Feb 8 Received an advertising bill for $1,900 which will be paid next month.

Feb 10 Purchased equipment worth $2,800, which will be paid later.

Feb 13 Billed for $1,200 in travel expenses to be paid next month.

Feb 15 Paid $3,800 cash for February's utilities.

Feb 29 Paid $1,950 cash for monthly maintenance contract.

Feb 22 Paid $2,300 cash to reduce the balance of accounts payable.

Required - Prepare the journal entries for the above transactions.